Our debts keep going down and our assets keep going up...what more can a person ask for? I always felt like some of the things we did were not understood by our friends, but I feel good about the choices and sacrifices we've made along the way.
It's been a while since I posted on here but I just wanted to update and say that we have kept on keepin' on, and are doing ok. I'm thinking about updating the about me section to show what's going on now... I may do that here in a bit.
Well, my DH deployed to Iraq a fews ago. It's sad not having him here and I hate not being able to call him or see him. But I'm trying to be positive and view this time apart as a time where we can save money and one day better our lives because of it.
Being deployed he gets extra pay and we plan to save that, as well as some of his ordinary pay. I've moved across the country and am finishing my college degree, and also living w/ my folks for the time being, which is also good for saving money, but not good for my sanity.
Well, I plan to move out of my folks house soon and into a modest apartment close to the college I'm attending. Tuition is roughly $3,000 per semester, so that's a tough blow, but without rent it's working out okay for now. We've paid down our credit cards to $2,000. In the past few months it had risen to $7,000 due to tuition, books, moving expenses, etc. In the next month I should be able to pay the last card off and retire the credit cards for good which is exciting.
This might be a little controversial, but I've opened up a personal checking account in addition to the joint one we both have and am funneling money into the personal checking account from our joint one. You see, his pay is direct deposited into our joint account and without a lot of expenses and the extra pay we should be able to save a good amount. BUT, my fear was that once the money starts rolling into the joint account, I would feel richer and be compelled to spend more simply because there's more there. So I'm giving myself an allowance each month that goes directly to my account and have stopped using the joint account. This way when I look in my account and see that it's quite low I'll stop spending. My monthly allowance is $300...that will change when i move into an apartment but for now it covers my meager expenses. That's the plan for now. Does it make sense to anyone other than me? My DH understands but is still skeptical, though he trusts my judgement.
I just realized that I haven't posted on here in almost 2 months!
Well here's a quick update. I'm in school and doing pretty well so far which is exciting. I guess part of the reason that I haven't been keeping up w/ this blog is besides being so busy, I'm not saving any money.
So all I have to write about is how expensive college is...and no one want to hear that. So in a few months we should start saving again, but for now it's all going towards tuition, books, etc.
Our networth over the past year and a half has been steadily increasing. This will soon end as I go back to college and try to pay for that in installment payments instead of saving $1,000 a month for our future house. I still want to take out a student loan but haven't applied or had a chance to research it. School starts soon, and that first installment payment for tuition is coming up. It will be almost $2,000 due on August 20th...yikes! College truely is expensive.
I promised to post our networth on the 1st of every month, but this month has been pretty hectic and I've not been online lately. But here it is! I took everyone's advice to pay off the high interest cards before they got out of control, and next will be tackling the 0% interest card...afterall that 0% won't last forever!
19 months of saving money. House down payment here we come!
My DH will be deployed for 15 months and I have 2 years left to finish my degree. What to do? I guess go back to school anyways and finish as much as I can. Is it worth it to almost finish? Is it even worth it to finish at all, if we keep moving around (due to DH being in Army) will the degree really mean a higher paying job? Should I take out student loans or pay from savings (and future savings)?
Nope, not divorce...deployment. My DH is supposed to be deploying in a few months to some far off country and will be gone for 15 months. Tours of duty overseas used to be 12 months but they've recently been extended. Very upsetting!
I would be so lonely here, so I think I'm going to move back in with my folks and try to finish college. I'm ussually a glass-half-full kind of person, so finishing school would probably be the best thing to do while he's gone.
I still don't believe he's leaving though. It's funny, I say I'm an optimist and believe the glass to be half full, but really I'm an optimist because I refuse to believe that the glass even exists. *sigh*
Well, this is the end of my daily spending journal. I decided to put an end to it because, well, it was boring! I guess that's a good thing though.
We're still using cash only and being very frugal for the next couple of weeks. Overall, it's not too bad. The only time it's truely hard to be thrifty is when we're out with our friends who want to constantly shop and buy drinks from Starbucks.
Recently, I paid down one credit card that had a balance of $1,500. Next, I shall tackle my credit card with a $2,000 balance. Wish me luck!
I had a no spend day but my husband bough beer. I wasn't very happy about it...I hate beer and I kind of consider it a non-neccessity, but he bought some anyways...
$30 on gas
Hopefully that will last me a while!
No spend day!
I tried to break the cash-only plan again today! Funny how hard it is to change old ways... Well the reason was that I pulled into the gas station early in the morning, on empty, and the station wasn't open yet so i could only use a card.
I drove to the next station that was open, and paid cash!
$18 on gas
$2 on lunch at Jack-in-the-box
Well already I've broken the cash-only plan! Curse! I went to the groccery store today and was short $7 so had to swipe the debit card. Also my husband bought and ink cartrige since we were out.
$47 on grocceries
$18 on ink cartrige for printer
I'm adding a new category called Spendometer which will be a daily tracking of what I spend my cash on. I think it'll help keep me honest and also help show where our money goes now that we're on a cash-only plan.
$14 on gas
After talking over the finances w/ my husband, we have decided to go on a cash-only diet. That means all 3 of the credit cards have been kicked out of our wallets, and our debit card is taking a vactation in the back of the wallet. For now, cash is king.
It's a big change, but we need a big change in order to change the direction that we're going. Lately, we've been treading water w/ our credit card debt and even drifting further from shore. We've been making large payments, but still charging new purchases, so the bill has steadily risen. Now we've said "enough" and are going to pay the debts off, and stop relying on credit cards for instant gratification.
It's going to be rough for a while, but that's good...because we've never really had it rough before. Anytime we wanted something (within reason) we just used the credit cards. And even though we knew the right thing to do was to pay the bill in full each month, we kept saying someday. Well someday has finnaly come and we're going to make it happen!
I edited our net worth to put in the exact figures and that raised it a little. It's going to change dramaticaly tommorow or so when I pay a couple thousand dollars on our credit card bills, thanks to the advice of everyone on here!
Well my husband and I got in a little arguement about money today. Our credit card debt is at about $6000 (you don't want to ask...) and that drives him crazy since neither of us have ever had that much on credit cards before and it just seems to keep going higher.
I'm not as worried about it as him because we have money in the bank and our net worth is positive...around $18,000. I would rather have $12,000 saved for a down payment on a home w/ $6,000 in credit card debt, rather than only $6,000 saved for a home downpayment and no credit card debt. Does anyone agree w/ me on this?
Well after talking to several customer service reps they said that my apr rate would stay at the original rate, 7.99%. But to be honest I don't believe them. According to the letter they sent in the mail I could deny the charges but the account would be closed to new charges, and if new charges appeared those would be at 17.5%. Confusing, huh? So I didn't quite get it clarified whether the 7.99% was just until I charged something else, or what. So now I'm scared to use the card...which is probably good!!